Interscope Records
Interscope Records is an American major record label. It is owned by Universal Music Group.
| Interscope Records | |
|---|---|
| Parent company | Universal Music Group |
| Founded | 1990 |
| Founder | Jimmy Iovine Ted Field |
| Status | Active |
| Distributing label | Interscope-Geffen-A&M (US) Polydor Records (UK) |
| Genre | Various |
| Country of origin | United States |
| Location | Santa Monica, California |
| Official website | http://interscope.com/ |
History
The label was founded by Jimmy Iovine and Ted Field. It was made as a joint venture with Atlantic Records. One of the main features of the company was weak control over the musicians. This allowed them to freely implement their ideas in creativity.[1] Already in 1993, a year after its founding, the label's profits recouped the $20 million invested in its opening. Until May 2014, the CEO of the company was Iovine, after which he was replaced by John Yanick.[2]
In 1992, Interscope acquired the exclusive distribution rights for the releases of hip-hop-specialized label Death Row Records, whose artists included Dr. Dre, Snoop Dogg and Tupac Shakur. Later, due to the distribution of the gangsta rap albums by the company, the label was embroiled in great conflict with members of the public. As a result, in 1995 Time Warner, owner of Universal Music Group, severed ties with Interscope, selling 50% of the shares to Field and Iovine for $115 million. In 1996, 50% of the shares were bought for $ 200 million by MCA Music Entertainment Group, later known as Universal Music Group.[3][4]
References
- ↑ Foege, BY Alec (1995-12-03). "POP MUSIC;Scorned, Shunned and Doing Quite Nicely (Published 1995)" (in en-US). The New York Times. . https://www.nytimes.com/1995/12/03/arts/pop-music-scorned-shunned-and-doing-quite-nicely.html. Retrieved 2021-02-03.
- ↑ "They Sure Figured Something Out : Jimmy Iovine and Ted Field have broken all the rules at Interscope Records and it's paid off--they're the hottest act in the business. : What's their secret? Don't be afraid of the two "Cs"--creativity and controversy". Los Angeles Times. 1993-10-24. Retrieved 2021-02-03.
- ↑ Fabrikant, Geraldine (1996-02-22). "THE MEDIA BUSINESS;MCA Agrees to Buy Stake In Interscope Record Label (Published 1996)" (in en-US). The New York Times. . https://www.nytimes.com/1996/02/22/business/the-media-business-mca-agrees-to-buy-stake-in-interscope-record-label.html. Retrieved 2021-02-03.
- ↑ "MCA Offers $200 Million to Acquire a 50% Stake in Interscope Records". Los Angeles Times. 1996-01-19. Retrieved 2021-02-03.
